Oil Tax Overhaul Poised For Senate Floor Debate

Governor Sean Parnell’s oil tax overhaul is poised for debate Tuesday on the Senate floor. For weeks committees have been reviewing the bill and making changes to it and this is the first time it will appear before the full Senate.

The Governor has made it a priority to overhaul the tax structure by getting rid of a measure that raises the state’s share when the price per barrel is high. Critics say the legislation could cost the state billions, but Parnell says it’s necessary to get more oil flowing through the pipeline.